Indian Equity Markets Dip Amid Sectoral Selling; Stocks to Watch on Tuesday
Market snapshot: Domestic equity indices experienced a pullback on Monday, with key benchmarks falling around half a percent each, ending a four-day winning streak.
Indian equity markets faced selling pressure on Monday, halting a recent rally. The Sensex closed at 83,606.5, down 452.4 points, while the Nifty settled at 25,517.1, a decline of 120.8 points. The downturn was largely attributed to profit-taking in the financial, oil and gas, and automobile sectors, signaling a potential shift in market sentiment as investors turn their attention to Tuesday’s trading session.
Stocks in Focus for Tuesday
Several companies are poised to be in the spotlight as trading resumes. Here’s a breakdown of key developments:
Real Estate Sector Developments
Raymond Realty, recently demerged from Raymond in May, is set to begin trading on the listed market on Tuesday. This debut is expected to generate significant investor interest. Meanwhile, Prestige Estates, a private sector real estate developer, has launched a new residential project in Chennai with a Gross Development Value (GDV) of Rs 3,350 crore, signaling continued expansion within the sector.
Corporate Restructuring & Expansion
Apollo Hospitals announced that its board has approved a proposed demerger of its Omni Channel Pharmacy and Digital Health Business. The resulting entity will be listed separately, potentially unlocking value for shareholders.
Infrastructure & Construction
NCC reported securing orders totaling Rs 1,691 crore for its buildings division in June, demonstrating continued strength in the construction sector. Kalpataru Projects International also announced a significant win, securing an order worth Rs 989 crore in the T&D overseas segment. Texmaco Rail & Engineering has secured a Rs 27.8-crore maintenance order from South Western Railway, bolstering its position within the Indian Railways network.
Energy Sector Updates
Oil companies – including ONGC, Oil India, GAIL, IGL, and MGL – are expected to be closely watched following the government’s decision to raise the domestic natural gas price to $6.89/mBtu, up from $6.41/mBtu. This price adjustment is likely to impact profitability and investment decisions within the sector.
Financial & Industrial Activity
Federal Bank has received board approval to raise funds through a combination of equity and debt, potentially fueling future growth initiatives. KSB secured an order from L&T to supply 15 sets of boiler feed pumps, with deliveries scheduled over the next 20-28 months. BEL has secured orders totaling Rs 528 crore since June 20, highlighting continued demand for its products and services.
Cement & Mining
Shree Cement’s subsidiary has been identified as the preferred bidder for a limestone block mining lease in Rajasthan, securing a vital resource for cement production.
Consumer Goods & Telecom
United Breweries is expanding the availability of its premium beer, Amstel Grande, to Karnataka, following successful launches in Maharashtra, West Bengal, and Uttar Pradesh. Vodafone Idea is preparing to launch its 5G services in 23 cities, marking a significant step in the company’s network upgrade and competition within the telecom market.
Investment & Rights Issues
Astec Lifesciences announced a rights issue at Rs 890 per share in a 1:7 ratio, opening from July 14 to July 28, offering existing shareholders an opportunity to increase their stake. Gabriel India received board approval for the proposed acquisition of Asia Investments’ automotive undertakings, including Anchemco and investments in Dana Anand India, Henkel Anand India, and Anand CY Myutec Automotive.
Housing Finance
HUDCO has sanctioned loans worth Rs 33,904 crore through June 30, demonstrating its continued role in supporting housing and infrastructure development.
The market’s performance on Tuesday will likely be influenced by these individual stock movements and broader economic indicators, as investors assess the evolving landscape.
